SecuredTouch raises $8M in April
Behavioral biometrics startup SecuredTouch raised $8 million in April, in what was otherwise a dry month for fraud prevention startups. This brings SecuredTouch’s total investment to date to $12 million. The Israel-based company said it expects to use the additional funds to expand its business activity internationally, including plans to open a U.S. office. The startup also expects to grow its R&D teams and deepen the capabilities of the company’s technological platform.
Arvato Financial Solutions, a global financial services company based in Germany and a division of the much larger Bertelsmann conglomerate, led the Series A round of funding.
“Investing in SecuredTouch allows us to partner with a global leader in behavioral biometrics for mobile devices, and to reinforce our online security and fraud prevention services in the best possible manner,” said Arvato’s Senior Vice President of Fraud Management Robert Holm.
SecuredTouch’s behavioral biometrics offering is primarily targeted towards financial organizations that provide mobile apps or digital services to clients, SecuredTouch Marketing VP Noa Benari told about-fraud.com. “Within the behavioral biometrics space, SecuredTouch is the only solution designed for mobile environments from the ground up as opposed to desktops and has unparalleled performance and superior accuracy,” she said.
No other investment of note in fraud prevention startups occurred in April.